Transforming Europe? The EU's industrial policy and geopolitical turn

Markets require rules, made and enforced by governments, and modern market-making has therefore unfolded as an intrinsic part of state-building. While the European Union is not a state, it has not been immune to these processes. Over the last three decades it has expanded its Single European Market and created a currency while constructing European political authority and deepening its institutional capacities. The EU has done this through supranational market-making largely centred on neoliberal precepts of competition and openness. Today, however, the EU is breaking with that tradition by pursuing a visibly interventionist European industrial policy and geopolitical market strategy. I suggest a theoretical…